European Cross Border Insolvency

This book presents a comprehensive analysis of the regulation of cross-border insolvencies in Europe. Council Regulation 1346/2000 on Insolvency Proceedings forms the natural focal point of such a study. However, while this book explores in detail the background, legal basis as well as the substance of the Regulation, it also contains an examination of the Regulation from two wider perspectives: that of international cross-border insolvency regulation and Community law. The approach adopted by the Regulation to the problems raised by cross-border insolvency forms part of a paradigmatic shift at the global level. The 'struggle over jurisdiction' - the natural state of affairs under the old principles of 'universality & territoriality' - is increasingly being replaced by co-operation between the jurisdictions involved. The Regulation must be understood against the backdrop of these new cooperative approaches, including the UNCITRAL Model Law and ancillary proceedings. Doing so, this book argues that the co-operative framework of the Regulation is limited and may ultimately not suffice to realise the efficient and effective cross-border proceedings it is aiming for. Although the Regulation is an exponent of this global shift towards cooperation, the legal context in which it operates is nevertheless very different. Community law, as an autonomous legal order, has limited the private international law autonomy of Member States and generated a comitas Europaea. This book argues that Community law and its comitas must be taken seriously. They are an important source of principles to guide courts in the interpretation and application of the Regulation and may reinforce and expand the co-operative mechanisms of the Regulation. Jona Israel obtained his LL.M. at the University of East Anglia, Norwich in 1994 and graduated at the University of Maastricht in 1995. From 1995 to 1998 he was researcher at the European University Institute in Florence, Italy. Since 1998 he has been lecturer at the University of Maastricht, teaching private international law, insolvency law and commercial law.

This comprehensive book provides a clear analysis of the main features of the European Insolvency Regulation 2015/848, within the context of previous EU initiatives, as well as addressing the contrasting objectives of universalism and territorialism which underpin cross border insolvency law. It measures the EU regulations against the UNCITRAL Model Law on Cross Border Insolvency and compares this with how the Model Law has been implemented elsewhere, such as in the US and the UK.

It is increasingly common for commercial insolvencies to involve more than one jurisdiction and the EC Regulation on Insolvency Proceedings now provides a framework within which the different insolvency regimes in the EU can interact. This new looseleaf provides a practical guide to European cross-border insolvency procedures in each European country. Taking a country-by-country approach, each section conforms to a standard template allowing easy access to information and quick comparisons between jurisdictions. * Only publication available covering the practical aspects of cross-border insolvencies following introduction of the EC Regulation * Considers the insolvency laws of each Member State showing how procedures work in each country * Analyses all case law since the introduction of the Regulation * Regular releases keep practitioners up-to-date with developments in all EU countries * Supplies at a glance guidance in a series of summary tables which can be further explored in the relevant section * Written by a team from Allen & Overy LLP, the leading firm in the area of insolvency

This book provides a distilled and accessible analysis of the European cross-border insolvency law. With reference to the amended Insolvency Regulation (EIR) and related sources it examines the issues involved in intra-member state cross-border insolvency. The book analyses in depth the main areas of change brought about by the EIR such as the restatement of the meaning of 'centre of main interest' (COMI) and the rules on international jurisdiction, the new specific measures for multi-national enterprises, and the move towards co-operation between insolvency practitioners and courts. The EIR represents a very significant development in European insolvency law which will have an impact on all insolvencies with an international element involving a European state. All practitioners advising on the area need a clear grasp of the implications of the changes and this book aims to deliver just that.

"This book presents an analysis of the effectiveness of European Union cross-border insolvency proceedings. It provides a thorough assessment of the development of cross-border insolvency proceedings established in the Regulation on Insolvency Proceedings ((EU) 2015/848) and how they contribute to the general goals of the EU internal market. Insolvency law has not been subject to a global mandatory harmonization process, with no globally biding legal act. Instead, the landscape of international insolvency law is characterized by a patchwork of national laws that seek to accommodate cross-border insolvencies and soft law agreements. In the EU cross-border insolvency law holds significant importance in ensuring the smooth operation of the internal market. Fostering international investments and legal foreseeability in insolvency proceedings, it upholds the fundamental freedoms within EU law. This book covers the main elements of EU cross-border insolvency law, such as jurisdiction, applicable law, recognition and enforcement of judgments. It also focuses on previously unexplored areas, such as the exercise of creditors' rights in cross-border insolvency cases and the tracing and recovery of assets and discusses the application of the restructuring and insolvency directive ((EU) 2019/1023) in relation to the rescue of viable companies and the discharge of debts for insolvent entrepreneurs. This book will be of interest to students and practitioners of insolvency law, EU law and private international law. It will also be useful for national legislators and EU institutions working on the development of EU insolvency law"--

This publication contains a set of 26 EU Cross-Border Insolvency Court-to-Court Cooperation Principles ('EU JudgeCo Principles') along with 18 EU Cross-Border Insolvency Court-to-Court Communications Guidelines ('EU JudgeCo Guidelines'). These EU JudgeCo Principles will strengthen efficient and effective communication between EU Member courts in insolvency cases with cross-border effects. They have been produced in a period of two years (2013-2014), developed by a team of scholars at Leiden Law School and Nottingham Law School, in collaboration with some 50 experts, including 25 judges representing just as many different EU countries. The principles are set in EU stone, in that they especially function within the framework of the EU Insolvency Regulation. The texts have been aligned with the text of the recast of the Regulation, as published early December 2014. The EU JudgeCo Principles try to overcome present obstacles for courts in EU Member States, such as formalistic and detailed national procedural law, concerns about a judge's impartiality, uneasiness with the use of certain legal concepts and terms, and evidently language. The texts further build on existing experience and tested resources, especially in cross-border cases in North America, but are tailor made into an EU insolvency law context. These Principles include a set of very practical EU JudgeCo Guidelines to facilitate communications in individual cross-border cases. The project was funded by the European Union and the International Insolvency Institute (III) (www.iiiglobal.org) and we thank both sponsors for their continued support. *** Librarians: ebook available on ProQuest and EBSCO (Series: European and International Insolvency Law Studies - Vol. 1) [Subject: EU Law, Insolvency Law, Commercial Law, Comparative Law]